Reinsurance News
Mergers & acquisitions news
Reinsurance mergers and acquisitions news, covering details of M&A transactions in the works and completed, between insurance, reinsurance and related companies.
ASU completes majority acquisition of Argo’s remaining surety business
22nd July 2024
Applied Surety Underwriters (ASU), a subsidiary of Applied Underwriters' United Risk Division, has completed its acquisition of the majority of Argo's remaining surety business. If you recall, back in April of 2024, it was confirmed that ASU would acquire the majority of Argo Surety group’s in-force coal, oil, gas, and ... Read the full article
Allianz’s acquisition of Income Insurance unlikely to alter Singapore market, Fitch
22nd July 2024
Global insurer and asset manager Allianz's proposed acquisition of Singapore’s Income Insurance Limited "should not materially change the competitive landscape in Singapore’s insurance market," says Fitch Ratings. If you recall, Allianz Group, through its wholly owned subsidiary Allianz Europe B.V., recently announced its intention to acquire a 51% majority stake ... Read the full article
Century acquisition grows EPIC’s employee benefits practice and P&C lines
17th July 2024
EPIC Insurance Brokers & Consultants has expanded its footprint in the Pacific Northwest region of the US with the acquisition of Oregon-based firm Century Insurance Group, LLC, a specialist in employee benefits and commercial and personal P&C solutions. Century will tap into EPIC’s specialised services and technology-driven insurance solutions, strengthening its ... Read the full article
Allianz to acquire majority stake in Singapore’s Income Insurance
17th July 2024
Allianz Group, a global insurer and asset manager, through its wholly owned subsidiary Allianz Europe B.V., has offered Singapore-domiciled insurer Income Insurance a pre-conditional voluntary cash general offer to acquire at least 51% of its shares. This strategic move will propel Allianz from the ninth to the fourth largest composite insurer ... Read the full article
Fleming files lawsuit against James River and executives concerning JRG Re purchase
16th July 2024
Fleming Intermediate Holdings has reportedly filed a lawsuit for securities fraud, common-law fraud, and breach of contract in federal court against James River Group and its CEO and CFO concerning Fleming’s purchase of JRG Re from James River for approximately $300 million. For some background on this story, James River ... Read the full article
Origin Specialty acquires agricultural-focused MGU AIMS
12th July 2024
Origin Specialty Underwriters Agency, a partner company of Beyond Risk, has acquired Agricultural Insurance Management Services (AIMS), an agribusiness insurance-focused MGU. AIMS offers a variety of farm-related coverages, including homes, barns, farm equipment, auto, and liability. According to Origin Specialty, Clark Lindley founded AIMS to address the need for quality agribusiness insurance ... Read the full article
Global M&A activity gains momentum in 2024 amid regional challenges: WTW
11th July 2024
Global mergers and acquisitions (M&A) activity continues to build on the positive momentum seen at the beginning of 2024, with the second quarter's completed deals surpassing those of the same period last year, WTW's Quarterly Deal Performance Monitor (QDPM) reports. In collaboration with the M&A Research Centre at Bayes Business School, ... Read the full article
Amynta to acquire Unum Group’s Medical Stop Loss business
11th July 2024
Amynta Group, the insurance services company, has entered into a definitive agreement with Unum Group, which will see Amynta acquire the Group’s Medical Stop Loss business. According to the announcement, the business will operate as a full-service managing general underwriter (MGU) under Amynta Risk Solutions. For those who are not aware, the ... Read the full article
Monarch E&S acquires MGA Commercial Sector Insurance Brokers
11th July 2024
Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has acquired the assets of Commercial Sector Insurance Brokers, LLC (CSIB), an Excess & Surplus (E&S) wholesale broker based in Birmingham, Alabama. With a management team with over 50 years of combined industry experience led by Bob Bleistine, CSIB is ... Read the full article
Assured Guaranty to merge US financial guaranty insurers
10th July 2024
Assured Guaranty Municipal Corp. (AGM), an Assured Guaranty Ltd. subsidiary that provides financial guarantees for municipal bonds, will merge with Assured Guaranty Inc. (AG), a company that offers financial guarantees and credit enhancement products, anticipated to take effect on August 1, 2024. The merger of AGM and AG into a single ... Read the full article
Marsh McLennan Agency to acquire Illinois-based broker Horton
10th July 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire The Horton Group, Inc., a full-service insurance brokerage based in Illinois, US. Horton, which was founded in 1971, offers property and casualty insurance, employee benefits consultation, and personal lines coverage to businesses and individuals across Indiana, ... Read the full article
Aviva completes £249m acquisition of Probitas
10th July 2024
Aviva has completed the acquisition of Probitas Holdings (Bermuda) Limited for a consideration of £249 million, marking the firm’s entry into the Lloyd’s market. If you recall, back in March, it was revealed that Aviva would acquire 100% of Probitas Holdings (Bermuda) Limited, the ultimate holding company of the Probitas ... Read the full article
SRG enhances equestrian capability with Carriagehouse acquisition
9th July 2024
Specialist Risk Group (SRG), the insurance intermediary, has acquired the ongoing business of Carriagehouse. Established over three decades ago, Carriagehouse plays a key role in supporting the equestrian industry by providing a wide range of specialist products, including, policies for horses and donkeys, horseboxes and horse trailers, carriages and harness and ... Read the full article
UK insurance M&A deal value hits £900m in H1 as total number increases: EY
9th July 2024
As per a new report from EY, the number of publicly disclosed M&A deals in the UK insurance industry increased from 54 in H1 2023 to 94 in H1 2024, while the overall disclosed deal value climbed from £400 million to £900 million. This information comes as part of EY’s latest ... Read the full article
Sampo obtains all regulatory approvals needed to acquire Topdanmark remaining shares
9th July 2024
Finish insurer Sampo has obtained all the necessary regulatory approvals for the exchange offer to the shareholders of P&C insurer Topdanmark. Back in June Sampo announced its intentions to acquire all of the outstanding shares in Topdanmark not already owned for 33 billion Danish Krone (€4.42 billion). The deal is subject ... Read the full article
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